Also known as: beneficiary interests · beneficiaries' interests · beneficial interests
Written by attorneys · grounded in primary & secondary sources — see below
The beneficial interests provided in the terms of the trust. A trustee must administer the trust solely in accordance with those interests.
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Ian Iverson serves as trustee of a trust benefiting his niece Ingrid Innes. Ian sells trust property to himself at below market value. The transaction fails because it does not advance the beneficial interests set out in the trust terms.
Imran Iyer accepts trusteeship of a trust created for his siblings. He invests trust assets only in the conservative portfolio the settlor specified. The administration satisfies the requirement to follow the trust purposes and the beneficiaries' interests.
Imani Idowu is remainder beneficiary of a trust that pays income to her mother for life. When the trustee proposes an investment outside the trust document, the court measures the proposal against the beneficial interests stated in the trust terms.
Ibrahim Iqbal serves as trustee but persistently fails to make required distributions. The court removes him after finding that continued service does not serve the beneficial interests provided in the trust terms.
A trustee refuses to lease trust land for commercial use because the settlor once opposed tall buildings. The court finds the restriction contrary to the beneficiaries' interests in realizing the property's value.
Trustees elect unitrust treatment and choose an effective date. The court reviews whether the election date fairly balances the income and remainder beneficiaries' interests under the trust terms.
It means the beneficial interests provided in the terms of the trust.
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A court may remove a trustee when persistent failure to administer the trust effectively means removal best serves the beneficial interests stated in the trust terms.
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No. The trustee must administer the trust solely in the interests of the beneficiaries as those interests are defined by the trust terms.
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…are held in a judicially created trust. The beneficiaries of the trust are the persons who held interests in the land, and the beneficial interests are of the same character as the legal interests which they formally held in the land. See also Simes and Smith, The Law of Future Interest, § 1941 (2d ed. 1956). This Court has long…